Small Scale LNG Market to Surpass $50 Billion by 2026
According to a recently published TechSci Research report “Global Small Scale LNG (SSLNG) Market By Application, By Mode of Supply, By
Region, By OEM Company, By Marketing Company, Competition Forecast &
Opportunities, 2012 – 2026”, the global market for small scale LNG is projected to surpass
$ 50 billion by 2026. Liquefied Natural Gas (LNG) is natural gas, predominantly
methane (CH4), that is converted to liquid form through a process
called liquefaction. When liquefied, the volume of natural gas shrinks by 600
times, thereby allowing ease of storage or transport through ships and trucks.
Increasing natural gas exploration & production activities, favorable
government policies supporting the adoption of LNG and growing energy demand in
remote areas are some of the major factors anticipated to boost the global
small scale LNG market during forecast period.
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Small Scale LNG (SSLNG) Market"
https://www.techsciresearch.com/report/global-small-scale-lng-market-by-application-industrial-transportation-utilities-others-by-mode-of-supply-truck-rail-tanks-trans-shipment-by-region-opportunities-forecast/803.html
Continuous fall in LNG production cost, shifting focus
towards cleaner energy sources to reduce the harmful effects of carbon
emissions coupled with reduction in natural gas flaring are expected to
positively influence the global small scale LNG market over the next five
years. Asia-Pacific dominated the global small scale LNG market in 2016, and
the region is anticipated to maintain its dominance during the forecast period as
well owing to continuing economic growth, high power deficits, new
technological advancements and implementation of stringent emission norms,
particularly in China.
By 2020, an average investment of USD230 billion will be
required for upstream sector for exploration & production of gas across the
world, which is projected to further increase to USD330 billion during 2020 – 2030
due to rising natural gas consumption. Increasing production and consumption of
natural gas, growing demand for gas from power sector and expanding reach of
City Gas Distribution (CGD) infrastructure across the world are anticipated to
drive consumption in the global small scale LNG market in the coming years.
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“Growing interest in the usage
of natural gas and LNG not only reduces sulphur or particulate content, but it
also aids in minimizing global warming. In addition, with sharp increase in
marine trade as well as road transportation, increase in air pollution has
become a cause of concern, especially over the last couple of decades.
International Maritime Organization (IMO) is expected to cap global SOx
emission down to 0.5% by either 2020 or 2025. All these factors are expected to
boost LNG adoption in the coming years.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Small Scale LNG (SSLNG) Market By
Application, By Mode of Supply, By Region, By OEM Company, By Marketing
Company, Competition Forecast & Opportunities, 2012 – 2026” has evaluated the global small scale LNG market and provides
the statistics and information on market structure, industry behavior and trends.
The report includes market projections and demand forecasting. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with essential drivers, challenges, and opportunities
available in the global small scale LNG market.
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